By: Joemar Matulac
All of us can relate to the experience we had during the “Ber” months – the hassle of crowded malls and long waiting lines due to discounted prices and promos because of the holiday rush, both in sales and operations, but technology has a solution for this.
It can be hard to believe that a generation ago, most people bought almost everything from a local retailer. However, the internet and e-commerce have drastically changed the way people around the world research and shop for the things they need.
A recent international study showed how consumers in different markets use the internet as their modern retail solution for everyday items. At present, shopping malls are part of the modern metropolitan landscape even in this fourth industrial revolution (4I), but it is being challenged by e-commerce or online shopping.
This e-commerce affected the shopping behavior of Filipinos. Online shopping is now becoming a part of every Filipino’s option in shopping and a lot of e-commerce platforms are emerging. Just try to look at the sales of the top four e-commerce companies operating here in the Philippines. For a start, check the total sales of baby diapers.
It cannot be denied that the mall business is being affected by the online shopping business. Convenience is the keyword. You just need to have a smartphone and data to buy anything you want, anytime and anywhere!
E-commerce does not only give convenience to buyers but also to merchants. Merchants can easily sell online because even social media support this kind of business model. The more content they have the more active users they can retain. They just have to look for the right platform that works for them, it can be a social media or an e-commerce platform or they can have both!
At the end of 2019, the total value of e-commerce retail sales increased by more than 40% than the value recorded at the end of the year 2018. In the highly competitive e-commerce sector, relevancy needs to be a top priority. One day you’re in, and one day you’re out. Online businesses must constantly be aware of ways to keep their brand and products in front of the eyes of their customers.
One of the best ways to do this is by simply staying alert and up-to-speed with e-commerce trends. However, there is always a risk that comes with trying out the latest fads.
E-commerce businesses have something to look forward to this 2020!
According to one of the local newspapers in the country, the Philippines is expected to become the top e-commerce market in Southeast Asia as early as 2020 because the Philippine e-commerce industry, valued at over $1 billion, is expected to grow exponentially in the next three to five years, according to the Chief Executive Officer of one of the top-performing e-commerce platform in the Philippines.
There are pros and cons in shopping online and through physical stores. It is for you to decide. The question is: “Are you willing to do the hustle, long lines, and traffic or would you prefer the alternative?”
Joemar Matulac is an experienced IT technical consultant and system developer with 10+ years of experience in managing technical teams and developing/designing/architecting web 2.0 and mobile-enterprise solutions in various platforms for a broad range of industries. He is currently working as Business Development Officer at Satellite GPS Asset Management and Tracking System, Inc. bridging the gap between business needs and technology.
